International marketing refers to the application of marketing principles and strategies across national borders. It involves the planning, promotion, distribution, and sale of goods and services to consumers or businesses located in foreign countries. While the core concepts of marketing such as the marketing mix (Product, Price, Place, Promotion) remain the same, international marketing introduces additional complexities such as cultural, legal, political, and economic differences that marketers must consider when entering foreign markets.

In this course, we practice the decision-making of an international marketing manager by running a business simulation called Country Manager. Decision-making includes:

1. Strategy Formulation: Develop and implement international marketing strategies, often by adapting the company's domestic strategies or developing new ones tailored to each foreign market.

2. Resource Allocation: Decide on the allocation of resources such as budget, manpower, and time across various markets and campaigns.

3. Brand Management: Ensure that the brand message is consistent across different markets, while also making necessary adjustments for cultural nuances.

4. Product Launch: Oversee the introduction of new products or services in foreign markets, which includes everything from market research to launch campaigns.

5. Pricing Analysis: Conduct pricing analysis to determine the optimal price points considering factors like local purchasing power, competition, and trade tariffs.

6. Channel Selection: Identify and establish relationships with distributors, wholesalers, and retailers in foreign markets.

7. Advertising and Promotions: Develop and manage advertising campaigns tailored to different markets. This might involve working with local advertising agencies to produce culturally appropriate content.

Upon successful completion of this course, students will be able to

•  understand the core principles of international marketing,
• develop and present an international marketing plan,
• capture the environmental forces and challenges of internationalization and international marketing,
• decide why, when, and how to enter foreign markets, and
• develop an international marketing mix.
• evaluate core concepts of marketing in different markets,

Students are allowed to miss no more than 2 sessions.

A multi-method approach is used to achieve the learning outcomes. Specifically, the following teaching methods will be used in this course:

• Pre-readings
• Lectures
• Group Assignments
• Individual Assignments
• Business Simulation

Grades are distributed as follows:

• Case Quiz (Individual) – 10 %
• Online Quiz (Indiviudal) - 15 %
• Presentation Marketing Plan Y1- Y4 (Group) - 15 %
• Presentation Results Y1 - Y4 + Marketing Plan Y5- Y8 (Group) - 15 %
• Presentation Results + Learnings (Group) - 15 %
• Self-Reflection (Individual) - 10 %
• Peer Review (Individual) - 10 %
• Business Simulation KPIs (Group) - 10 %

Only for students of the master program "Export and Internationalization Management" and incoming students (master level). Registration for the course on time is obligatory.

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E-Mail: arne.floh@wu.ac.at

A reading list for each session is available online via learn@wu. For students who like some background readings, I suggest the following textbooks:

• Hollensen, Sven (2016): Global Marketing, 7^th edition, ISBN-13: 978-1292100111
• Keegan, Warren J. and Mark C. Green (2019): Global Marketing, 9^th edition, ISBN-13: 978-0134129945

Further information, if appliable, will be announced in advance.